hanahana beauty

Redefining the Shea Butter + Body Care Industry

Last Funded April 2024


raised from 132 investors


Grew to +$2M in sales, as a digitally native brand, without using paid marketing.
E-commerce sales driven by 70% returning customers.
Achieved 85% gross margins since the company was founded.
Selling in +500 Ulta Beauty Stores nationwide.

Featured Investors

Our Team

Hanahana Beauty: Beauty with Intention

Why Are We Here

Since 2017, Hanahana Beauty has scaled from a direct-to-consumer cult-favorite beauty brand to gracing the shelves of 539 Ulta Beauty stores. The unwavering support of a passionate community has fueled the rise of Hanahana Beauty! Our growth has been organic and our impact has been global, starting from the sourcing of raw shea butter!

Now, we are thrilled to extend the opportunity for our community and customers to share in the ownership of Hanahana Beauty as we navigate the path of sustainable scaling. Join us on this exciting venture!

What Makes Us Clean Beauty

When we say consciously clean, we are not only talking about our environmental impact or the formulation of our products from plant-derived ingredients. We are intentional before product development starting with sourcing ethically directly from producers in Ghana. We have transcended the boundaries of a skincare brand to become a powerful movement. With sustainability, transparency, and creating access to communities that support us, as its guiding principles, it boldly challenges conventional beauty norms, empowering women to embrace their inherent beauty.

Our Founding Story

Five years ago, Abena Boamah-Acheampong, decided to make a career pivot from a 7th Grade Algebra teacher and Counseling Psychology Masters student so that she could scale her burgeoning skincare brand Hanahana Beauty. Growing up in a Ghanaian household instilled a profound belief that beauty emanates from inner confidence and the restorative qualities of simple, natural ingredients like shea butter. Childhood memories include her mother's craft of warming shea butter and cloves to create family body butter remedies, with "nkuto" (Twi for shea butter) as the universal answer for muscle pulls, headaches, or dry skin.

Years later, Abena's encounter with the unforgiving winters of Chicago, coupled with her frustration over opaque skincare products, kindled the flame of inspiration. Drawing from her Ghanaian culture and family's wisdom, she created her skincare solutions.

Abena's curiosity and research revealed the beauty industry's lack of transparency and sustainability. This discovery prompted her to establish direct sourcing relationships with the Katariga Women in Tamale, Ghana. Meeting and immersing herself in their community not only sparked her creativity in creating educational experiences but also deepened Hanahana Beauty's vision to uplift black women worldwide through sustainable, ethical sourcing.

Revenue for 2023 and 2024 is based on preliminary actuals and conservative projections.

Understanding the SAFE and Your Expected Return

If you're new to investing, let's break down the key concepts of a Simple Agreement for Future Equity (SAFE) and outline how your investment can grow.

What is a SAFE?

A SAFE is a tool that lets you support startups by providing them with capital. The unique aspect of SAFEs is that the exact equity you receive isn't determined until a qualifying event, like a funding round or acquisition, takes place.

How Does it Work?

  • Share Price: This is the value of a single share in the company, calculated by dividing the overall business valuation by the total number of shares.
  • Valuation Cap: A limit on the valuation used to determine the number of shares allocated from a SAFE.
  • Investment Outcome: Your return is determined by multiplying the number of shares you receive by the share price at the upcoming priced round.

Let's Put it in Perspective with an Example

Imagine you invest $5,000 in Hanahana Beauty's WeFunder Campaign using a SAFE with a $7.5M valuation cap. For the purpose of this exercise, we will assume the business currently has 1M in total shares outstanding, on a fully diluted basis.

Step 1: Calculate SAFE Share Price:

  • $7,500,000 valuation / 1,000,000 shares = $7.5 SAFE share price

Step 2: Determine Your Shares:

  • $5,000 investment / $7.5 share price = 666.67 shares

Step 3: Calculate Future Value: Assuming a future $15M valuation with a $15 share price [$15,000,000 valuation / 1,000,000 shares = $15 share price],

  • 666.67 shares x $15 share price = $10,000 expected return

Congratulations, your $5,000 investment has doubled! In other words, by investing capital into Hanahana today, you have the opportunity to 2x the value of your investment.

Important Points to Note:

  • Shares you get through the Hanahana SAFE are called preferred shares, which means they are senior to common stock and options. If there is a monetization event (like a sale), preferred shareholders get paid first, followed by common shareholders. This is good news for you as an investor, especially since the Hanahana founders have common stock and options – being a preferred shareholder is a significant benefit, especially for customers like you!
  • The next fundraising round, which will likely be a priced round, will be led by venture capital firms and select accredited angel investors in the Hanahana network. Unfortunately, this means traditional customers/retail investors will not have a chance to invest in the next financing round.
  • The current value of the business, set at $7.5 million, was determined by institutional investment firms, including a16z. Our advisors think that Hanahana could grow to a $15 million valuation in the next 12 to 24 months. Keep in mind these are projections and may change. With SAFEs, you can't be sure of the exact value until the qualifying event occurs. Just a heads up for you as an investor!
  • Your returns from the SAFE will come when one of two things happens: (1) the business is sold, and all shareholders are paid based on the value of their shares, or (2) Hanahana decides to issue capital to investors through distributions.

Remember, investing in a SAFE involves some uncertainty until the qualifying event occurs. Your investment could be the start of something exciting and rewarding!